The worst hit advertising shares are led by Aegis, owner of media-buyer Carat, which tumbled 9% to 70.5p by mid-afternoon trade today. It was closely followed by advertising giant Cordiant, which slipped 6.1% to 107p.
Chime Communications fell just 1.2% to 128.5p while WPP, which was trading at 710p at the end of August, plunged 3.6% to 482p. Its takeover target Tempus, owner of media-buyer CIA, was down 0.4% at 553.5p.
French advertising group Havas, WPP's rival for Tempus, fell 6% to €6.72 (£4.25) in Paris while its compatriot Publicis slipped 3.8% to €17.66 (£11.18).
In New York this afternoon, shares were also heading downward, albeit at a slightly slower pace. Interpublic fell 0.7% to $22.85 (£15.60) and Omnicom was down 2.6% to $64.70 (£44.18).
The future is still looking pretty grim for the TV companies. Carlton had fallen 7.4% as its exit from the FTSE 100 tomorrow is about to become a reality. Granada, its partner in ITV, has fallen just 0.8% to 96.75p.
One of the biggest sliders of the day was radio group GWR, which was down 8.2% to 167.5p. Other heavy fallers include magazine and radio group Emap, down 4.6% to 515p, and United Business Media, which is down 6.8% to 401.50p.
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